FB Financial Q3 Earnings Climb, EPS Beats Estimates

(RTTNews) - FB Financial Corp. (FBK), the parent company of FirstBank, reported a growth in third quarter net income with higher revenues, compared to the previous year. On an adjusted basis, earnings beat estimates. Currently, shares are slightly up.

The bank holding company's quarterly earnings grew to $23.34 million from $10.22 million the prior year. Earnings per share surged to $0.43 from $0.22, a year ago. On an adjusted basis, earnings were $57.61 million or $1.07 per share, higher than $40.13 million or $0.86 per share in the previous year.

Analysts, on average, had expected the company to earn $0.96 per share on revenues of $167.75 million. Analysts' estimates typically exclude special items. Third-quarter total revenue surged to $173.88 million from $89.52 million for the comparable period.

As of this writing, shares are trading at 0.37 percent or 0.21 cents higher at $56.52 on the New York Stock Exchange.